a generic tag related to accumulating cash or bank deposit savings.
2
votes
3answers
63 views
Long term saving: Shares, Savings Account or Fund
I'm reasonably disciplined with regard to saving but am unsure as to how exactly I should go about it on a long term bases. Should I favour shares, funds or long term saving accounts? What are the ...
3
votes
1answer
42 views
Is there a non-US app (Chrome/iPhone/Cloud) where one can set financial goals and keep track of progress?
I'm looking for an applications where I can set individual financial goals such as a house, a car, vacations, etc, set how much money I need for said goal, and log progress towards it. Ideally this ...
3
votes
2answers
44 views
How should I specify income that was saved abroad on my children's FAFSA?
I lived and worked in London (even though I'm an American) for the last 5 years, and now I'll be heading back to the states.
My children are about to start college and I have money saved in an ...
3
votes
5answers
448 views
How much should I save each month so I can retire early, in my Third World country?
I live in a 3rd-world country. I earn $500/month.
How much percentage of my income should I save each month, if I plan for early retirement?
Currently I am saving 30% of my income.
Is there any ...
2
votes
1answer
38 views
What are some FSA eligible expenses that can be used for baby care?
I signed up for a Flexible Spending Account (FSA), and am now trying to figure out what all is covered under it.
I know some of the basic products like band aids and glasses are, but I'm really ...
3
votes
3answers
116 views
What investment options should I consider for my emergency fund?
I have an emergency fund with 3 months of income saved up. It is currently in a money market earning less than 1%. This money is saved in case I lose my job or need to make a major repair on my home.
...
5
votes
3answers
121 views
Protecting savings from exceptional taxes
Cyprus sets a sad precedent in the sense that a government considered taxing up to 10% of private bank savings in order to improve the financial situation of a country.
The decision did not pass but ...
2
votes
1answer
129 views
Why doesn't the government pay interest on tax withholding returned via a refund?
When the US government pays you your tax refund, it doesn't include any sort of interest payment for what is essentially a loan to the government. Why doesn't the government pay interest?
2
votes
1answer
120 views
What's the equation for savings growth, that considers contributions?
I'm looking for the equation that basically works like this
"Assuming you have X saved, and save Y more a year, and your savings grow at Z percent, you will have S after T years."
0
votes
0answers
32 views
In Germany: can i live in a Betriebstaette to circumvent payment of the Rundfrunkbeitrag
While for a flat a person has to pay 17 sth. € per month, while for a Betriebstätte with one person working a company only hast to pay 5.99 €.
As the company doesn't hast to pay anything at all if ...
3
votes
3answers
117 views
is it good to buy insurance policy as investment for beginner?
I have no investment experiences before. So want to get some suggestions.
Lately one insurance adviser was suggesting to buy one insurance policy as investment (they called it as saving plan ) . Here ...
1
vote
1answer
46 views
How to automate and streamline saving for multiple large purchases?
My situation is the following:
I want to automate as much of my finances as possible
I want to have multiple savings goals (perhaps house, wedding, new car, or recurring 'savings' items like car ...
0
votes
2answers
97 views
Considerations for taking a sizable break from working
The Proposition
From time to time, my wife and I consider the "foolish" idea of leaving our jobs (and, likely, careers) and taking a sizable chunk of time off from working, or at least working in the ...
1
vote
1answer
194 views
How to protect liquid assets from risk of hyperinflation
I don't want to freeze my cash in any medium that would require me to look/wait for a buyer, wait for the collective investment fund to cash my shares as they take their allowance of time to cash them ...
2
votes
2answers
82 views
Should I include my hard assets as part of my net worth?
As part of doing my taxes every year I do a calculation as to what my current net worth (assets - debts) is so I know how to set my savings goals for the year. Currently I do not include hard assets ...
5
votes
4answers
205 views
Should I save for a down payment or pay off school in cash?
I am able to save about $1000/month after all bills. I can either save this money for a down payment on a house, or pay for my (rather expensive) grad school program in cash and incur no additional ...
2
votes
2answers
75 views
Software to roll up funds distributed across multiple bank accounts
I previously asked how to use Gnucash category structure for funds distributed across multiple bank accounts and am now thinking gnucash just can't do what I need, or even if it can maybe others can ...
4
votes
4answers
152 views
Multiple accounts stagnant after quitting job.
So I made the move to quit my job of over 10 years a few months back and have never been happier. My one problem is that I now have some accounts that I feel that I could be doing more with.
I had ...
7
votes
4answers
210 views
How do you go about calculating how much you need after retirement?
I am posting this question after reading this article on WSJ, where it says:
Just 42% of working-age Americans have even tried to calculate what
they will need in retirement, according to the ...
0
votes
1answer
120 views
Saving Money in Fixed Deposit Account VS in Saving Account (with various interest rates)
Which might be a better choice?
Starting Money : 10K
(1) Fixed Deposit Account with the following interest rates
1 month : 0.5%
2 month : 0.6%
3 month : 0.7%
...
10 month : ...
7
votes
3answers
243 views
When is the right time to buy a car and/or a house?
I am a 24 years old young IT professional. Since I don't have addictions to anything including drinking, I mostly save a lot (around 50% of my income after tax like $15-$25k a year). Currently I drive ...
5
votes
1answer
104 views
Can my sister open a Coverdell ESA for my son?
My son is, naturally, claimed as a dependent on my tax returns. My question is:
Can my sister open a Coverdell Education Savings Account (an education IRA) for my son (her nephew)?
I am aware that ...
4
votes
1answer
137 views
Where to invest proceeds from home sale to be used to buy new house within five years?
My wife and I have just sold our house (mortgage was paid off) in the city we lived previously. We're currently renting because we're not sure if we're going to remain in our new city. At some ...
3
votes
1answer
145 views
Safety of keeping savings in a mortgage account
I have a mortgage account and a separate (yet linked) savings account with a certain Australian bank.
This bank draws a minimum mortgage repayment from the savings account into the mortgage account ...
3
votes
1answer
160 views
How to find a savings or money market account with a high interest rate / yield?
I have my emergency fund in an ING Direct savings account. The saving account does not really give a good return and I was wondering what are my options?
I want to put the money in some sort of ...
2
votes
3answers
308 views
I have $12k in a Chase checking account, but want to start earning interest/saving/investing/etc to make more money. What should I do?
Basically I'm tired of money just sitting there doing nothing. Is it wise to open a savings account with my bank (Chase)? Should I take it elsewhere? Should I get into stocks? Do I even have enough?
...
3
votes
2answers
148 views
What is a low-risk strategy for parking savings funds to be used later as a home downpayment?
We are still about 2 years from purchasing a home and have been using a good ol' savings account with a incredible return rate of 0.80%!
Is there any investment avenue where we can get a better ...
4
votes
5answers
343 views
Should we pay down our HELOC or pay extra towards our mortgage?
We have a mortgage at $207K at 5%, a HELOC balance of $7500 at 3.25% and a credit card balance of $3300 at 13.9% APR.
In savings we have $116K and in a mutual fund we have $21K
My plan was to take ...
1
vote
2answers
194 views
Is it smart to move private (euro) savings to a different currency?
Lately, I'm hearing a lot of talk about the euro's impending demise (I don't know how true that is by the way). And it's making me a little bit worried about my savings.
I don't have a lot of ...
2
votes
1answer
139 views
Buying Large Amounts of Inflation-Protected Treasuries (TIPS)
We are selling our current property, and will be renting in the short term while looking for a property to purchase. We have some equity in the current property, so will get a payout at closing. To ...
3
votes
4answers
241 views
What are the advantages of using credit card to pay most of expenses?
If I will pay most of my expenses via credit card, then is it correct to assume the following points?
1) My saving account interest rate will increase by somewhat (interest
is calculated upon ...
2
votes
1answer
333 views
How much should a graduate student attempt to save?
I am just starting out with my PhD after a relatively inexpensive BS. I have no loans or any other outstanding dues. My stipend (as is for thousands of US graduate students is ~$1500 per month) in ...
6
votes
2answers
462 views
CD interest rate US vs abroad, is there a catch?
I was in Ukraine and ran into a few banks that offer anywhere from 5% to 10% interest rate on investment per annum. For example, Erste Bank is willing to pay 5,75% on 12 months deposit. I have few ...
9
votes
6answers
260 views
Are my monthly commited expenses out of whack?
Okay, my wife and I struggle with our finances and we are trying to get them in order.
My net pay is approx $1300 every two weeks (my wife does not work)
That is after health insurance premiums
...
6
votes
3answers
312 views
Are savings counted as part of expenses in a personal budget?
When I budget for me, I usually count savings part of the expenses.
Is it the correct way to do it? Because of this, when I look at my budget at the end of the month, it feels like my expenses are a ...
6
votes
3answers
212 views
How to get started with savings, paying off debt, and retirement?
I am getting married soon and I am in grad school (I get paid a stipend and have a tuition scholarship). I have no retirement plans available to me. My fiancee will be starting her job soon and will ...
12
votes
6answers
1k views
Why are interest rates on saving accounts so low in USA and Europe?
For example, in USA interest rates are 1-2% percents, while in Russia it is normal to have up to 8% anually for US dollars account. Same goes for Euro. For Russian ruble it can be up to 12%, but with ...
6
votes
3answers
285 views
Should we invest some of our savings to protect against inflation?
My wife and I are in our early 30s. Our gross combined income is about $125,000/year, and our rent is ~$2,500/month (we live in San Francisco). We have no debt, and we have about $85k saved up in a ...
4
votes
1answer
167 views
How do I evaluate risk exposure to my U.K. bank in light of the possible collapse of the Euro or Eurozone economies?
I understand there are concerns about runs on banks in Eurozone countries like Greece and Spain. Should this happen, it might put pressure on banks elsewhere.
How can I evaluate the risk exposure of ...
0
votes
1answer
80 views
Possible pro-rated division of asset strategies without a prenup?
Example:
I have $100,000 in the bank.
I get married.
We start a joint account from scratch. All future salaries and bills from both of us come and go from here.
Is there any way to keep the ...
4
votes
4answers
197 views
Paying loan more than the monthly limit vs keeping the extra in a bank or investment
I have a student loan (9% interest rate) which I have to pay within the next two year. Since I have a secure job I know I will finish paying within two years even with the minimum monthly payment. ...
4
votes
2answers
414 views
Where should I invest my savings?
I am 29 year old living in USA, married and expecting first child this summer. We are debt free and both have stable jobs. I have a side business earning me about $30K net income a year. We have about ...
1
vote
1answer
110 views
How much in cash equivalents should I keep in the bank? [duplicate]
Possible Duplicate:
As a general rule, how much in “liquid” emergency savings should I have?
I recently started my first job and now have more money than I've ever had in my ...
2
votes
1answer
75 views
Is it preferable to move emergency savings/retirement into offset mortgage?
I have some savings in an easy access stocks & shares ISA. I view this as long-term savings/emergency money. Is it preferable to leave the money in there or is it better to transfer that across ...
14
votes
6answers
673 views
“One should save about 15% of their income for retirement.” What assumptions are tacit in that statement?
I read a lot of websites that say, "I've run the numbers, and you should be saving around X% of your income for retirement in order to be safe, and have fruitful golden years." With X% being a number ...
18
votes
3answers
408 views
Abundance of Cash - What should I do?
There seems to be a glut of information and I don't know where to start.
My situation is:
No debt/kids
Own Home and Vehicles
Have a years worth of living expenses in my savings/checking
Max out ...
8
votes
3answers
1k views
First time home hunters. Pay debt or save for down payment
tl;dr
We want to buy a house.
We've done all the pro's and con's of home ownership.
We have 1/2 a down payment and some highish loan payments
Would it be wiser to pay down the loans and go ...
1
vote
1answer
103 views
Short term savings
I want to save about €1500 ($2000) in 5-7 months and then take out the money and buy something specific. There is a pretty low probability that I should need some of it during the first 4 months, but ...
3
votes
1answer
93 views
Better rate for investment between CD or savings
I have been considering either renewing my CD (Certificate of Deposit) from my local Credit Union which is at 1.35% APR (1.3591 %) dividend rate (monthly compounded) for one year. I recently noticed ...
6
votes
1answer
134 views
Can I still claim my Hong Kong-based MPF pension if I move elsewhere?
I am 60 year old and I will not be living in hong kong in the future, would I still be able to claim back my mpf?
